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Billion euro investment earmarked for India by Volkswagen Group

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The Volkswagen Group has always considered India as a very important market. The Group has now confirmed that it has allocated almost 1 billion euros or more than Rs.7,800 crore for coming up with 6 new car models for the Indian market. These models will be launched from 2020 onwards when new regulations pertaining to emissions and safety will be introduced. Skoda is now leading the initiative at the Volkswagen Group for developing more affordable models for the domestic market. In case these models do well here, they may be exported to other global markets as well.

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Skoda wishes to notch up higher volumes in the country (the company did 17, 500 units last year which represented 30% of growth overall) and hence wants to have an active presence in the hatchback and SUV categories along with the sedan segment where it already has a strong presence. The Kodiaq SUV has been well received and the brand will soon launch the Karoq SUV within 12-18 months.

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Three new models will be launched under each of the two brands, namely Skoda and Volkswagen. These models will use the MQB-A0 platform from the Volkswagen Group. The Group may also set up an engineering and development center and may deploy some of the funds for this purpose. The funds will also be used for developing new models and expanding the production unit at Chakan in Pune. The CEO at Skoda Auto India, Bernhard Maier, has already stated that the launch of the first cars which use this platform will take only during 2020.

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